Jefferies Financial Group Reaffirms “Buy” Rating for Glencore (LON:GLEN)

Glencore (LON:GLEN)‘s stock had its “buy” rating reaffirmed by stock analysts at Jefferies Financial Group in a report issued on Tuesday,Digital Look reports. They currently have a GBX 720 price objective on the natural resources company’s stock. Jefferies Financial Group’s price target indicates a potential upside of 23.06% from the stock’s current price.

A number of other equities analysts also recently issued reports on the company. Berenberg Bank reiterated a “buy” rating and set a GBX 630 price target on shares of Glencore in a research report on Friday, May 1st. Citigroup upped their target price on Glencore from GBX 6,700 to GBX 7,700 and gave the stock a “buy” rating in a research note on Thursday, June 4th. Finally, JPMorgan Chase & Co. increased their target price on Glencore from GBX 500 to GBX 560 and gave the company a “neutral” rating in a research report on Tuesday, May 26th. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 1,755.

Glencore Price Performance

LON:GLEN opened at GBX 585.09 on Tuesday. The company has a quick ratio of 0.32, a current ratio of 1.06 and a debt-to-equity ratio of 109.99. Glencore has a 52 week low of GBX 273.30 and a 52 week high of GBX 707.20. The stock’s 50-day moving average price is GBX 569.06 and its 200-day moving average price is GBX 496.50. The stock has a market capitalization of £68.55 billion, a PE ratio of 195.03, a price-to-earnings-growth ratio of 0.43 and a beta of 0.51.

Glencore Company Profile

Glencore is one of the world’s largest global diversified natural resource companies and a major producer and marketer of more than 60 commodities that advance everyday life. Through a network of assets, customers and suppliers that spans the globe, we produce, process, recycle, source, market and distribute the commodities that support decarbonisation while meeting the energy needs of today.
With over 150,000 employees and contractors and a strong footprint in over 35 countries in both established and emerging regions for natural resources, our marketing and industrial activities are supported by a global network of more than 50 offices.